NEW YORK CITY (September 28, 2015) – Ernest DesRochers, senior vice president/managing director of NorthMarq Capital’s New York metro office and Charles Cotsalas, senior vice president/senior director of NorthMarq Capital’s Long Island office collaborated to arrange financing for a four retail-property portfolio in Suffolk County, Long Island and a retail plaza in Dix Hills, New York totaling a combined $12.9 million. Dix Hills Plaza: This 51,820 sq.ft. retail property is located at 1815-1819 East Jericho Turnpike in Dix Hills, New York and was refinanced for $8.5 million. The transaction was structured with a 9-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. “The lender structured the loan without any prepayment premium to allow maximum flexibility for the borrower with respect to sale or future refinance,” noted DesRochers. Four Property Portfolio: A four property portfolio of retail properties, located in Suffolk County, Long Island was refinanced at $4.4 million. The buildings contain a combined 131,005 sq.ft. The transaction was structured with a fully amortizing 18-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The borrower has a long and proven track record in the Long Island industrial market,” said DesRochers.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.
